UPDATE: Jefferies Downgrades Informatica; Lowers PT
According to a research report published Friday morning, Jefferies downgraded Informatica (NASDAQ: INFA) from Buy to Hold, and lowered PT from $54 to $36.
In the report, Jefferies said, "A combination of macro uncertainty and execution led to INFA's 2Q miss, which will derail the timeframe for license growth reacceleration. We don't believe this is a product strategy / structural issue but softening demand and a sales team transition will reset estimates and leave few near term catalysts to help support the stock. As such, we are downgrading INFA to Hold with a $36 price target."
Informatica closed Thursday at $43.37.
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